MILAN — Italy’s Twin-Set Simona Barbieri SpA fashion label has appointed Alessandro Varisco chief executive officer as part of a reorganization plan that will boost the company’s international retail development.
As part of the reorganization, the Carlyle Group — through its Italian buyout team — will increase its controlling stake in Twin-Set from 72 percent to 90 percent; founder and creative director Simona Barbieri will own the remaining 10 percent.
“The transaction is part of a reorganization plan aiming at continuing the company’s process of international and retail development initiated in 2012,” Twin-Set and Carlyle said in a joint statement Wednesday.
The Carlyle Group acquired a 70 percent stake in Twin-Set in 2012. The private equity house has said it is eyeing an initial public offering for the company sometime between the end of 2015 and the first half of 2016.
Varisco joins Twin-Set from Moschino, where he served as ceo until June 30, and will lead the company as it prepares for the IPO. Varisco succeeds Tiziano Sgarb. WWD first reported that Varisco was leaving Moschino for Twin-Set on June 29.
Varisco said: “I strongly believe in the brand and in the values represented by the Twin-Set world and, in particular, I am sure that the brand still has a lot of potential, not only in Italy but also on international markets, where [it] has started a phase of development in recent years.”
Commenting on the reorganization, Simona Barbieri said: “I am very pleased about this renewed partnership with Carlyle and I am sure that its support will continue to be central for Twin-Set’s new growth phase, which looks increasingly to international markets for the future development of the brand….I am sure that Alessandro will lead Twin-Set in its process of further growth, thanks to his managerial skills and significant track record with international brands.”